The depreciation period for the purchase of electric cars will be reduced from 6 to 3 years

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The Manufacturers Union appreciates this measure but asks the board to take urgent measures to accelerate the development of public charging infrastructure

The plenary session of the Congress of Deputies has given the green light
a compromise amendment in the General National Budget 2023, which allows accelerated depreciation to companies for investments in electric vehicles, plug-in hybrids, hydrogen cells and electric vehicles with extended autonomy for corporate income tax purposes.

Its implementation will shorten depreciation periods from 6 to 3 years and will mainly benefit companies when purchasing electrified vehicles.

Of the
Spanish association of car and truck manufacturers(Anfac) positively appreciate the adoption of this amendment, presented by the PdeCAT in the General State Budget in the section corresponding to corporate income tax, although they believe that it is still very necessary to take more fiscal measures to move towards electrification.

This transactional amendment defended by Anfac means that an additional provision will be made to Law 27/2014 of November 27, which will be amended to
halve the depreciation period (on average this means a shortening from 6 to 3 years) the investments made by companies in the purchase of emission-free vehicles.

In addition to this measure, the Manufacturers’ Association defends measures such as the personal income tax exemption for users derived from
financial support from the MOVES III planthe deductibility of the investment in the purchase of electrified vehicles and their charging infrastructures in the Corporate Income Tax or the VAT exemption on the purchase of electrified vehicles for companies, among others.

«The progressive electrification of our vehicles is a requirement. Currently our market is with
a quota of 10% electrified it is well below the average of 20% in Europe. In addition to the economic support for the purchase, we need to take advantage of the tools we have. And taxation is a powerful tool. If we want to achieve the decarbonisation targets to which Spain has committed itself, we must accordingly and urgently take measures that promote, incentivize and make the electrified vehicle much more accessible to citizens,” said José López-Tafall, General Director of Anfac.

This organization has “repeatedly” demanded from the government the need to enact and implement a tax reform aimed at vehicle use and to subsidize the purchase of vehicles
electrified vehicles to encourage and increase its share in the national market. Similarly, the association has presented to the executive its 1+12 plan to promote electrification, a set of urgent measures to accelerate the development of public charging infrastructure and increase the efficiency of charging plans.

Source: La Verdad

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